On paper, FSBO leads should be a slam-dunk for real estate agents. After all, individuals who have listed their home “for sale by owner” (FSBO) clearly have a vested interest in selling their home –– and often quickly at that. Yet, finding and converting FSBO leads can prove to be a big challenge, even for established real estate agents. With that in mind, today we’ll take a closer look at how to get FSBO listings and how to manage these unique leads.
Step #1 Find Good FSBO Listings
Real estate agents in search of FSBO listings may first decide to search websites specifically designed for individuals looking to sell their home on their own. This should –– at the very least –– give you an idea of how many potential FSBO leads are in your market.
From there, you may decide to focus on other ways to find FSBO leads. For example, individuals who list their home for sale on Craigslist, in newspapers, or on another paid platform may be even more motivated to sell their home than the average person. This could be key to finding a good lead from FSBO listings.
Note also that many individuals who place their home for sale on their own don’t ever bother to market their home. So keep an eye out for “for sale” signs in your neighborhood, and speak with friends and neighbors who may know someone looking to sell their home.
Step #2 Make Contact
It’s important for real estate agents to determine the needs of an FSBO lead before they try to win their business. Some people who list their home for sale on their own may do so because they already have a buyer in mind, or because a seller has contacted them directly. In such a situation, it could be difficult –– if not impossible –– to win them over.
However, a good number of people choose to sell their home directly because they don’t want to work with an agent and pay commission. This might sound like a big obstacle, but you can often use this knowledge to your advantage. Speaking with the lead is the best way to determine their needs and preferences.
Step #3 Demonstrate Value
Because many individuals who list their home for sale on their own have a predisposition not to work with real estate agents, professionals intent on winning new business must show that they are:
- Different from other agents in their field
- Capable of providing real value to the process
Listening can go a long way toward developing a connection with an FSBO lead. As can visiting them in person to discuss their progress. Never underestimate the value of a friendly chat!
Once an FSBO lead is open to hearing your pitch, now is the time to highlight the benefits associated with working with a professional agent. Areas you may want to emphasize include:
- The ability to secure a higher sales price for the property
- Access to exclusive market information and personal connections
- Expertise to expedite the process and take the stress out of selling a home
Many people who try to sell their home on their own lack the experience and the knowledge to complete the process quickly and effectively. As such, many can suffer from stress and frustration –– let them know you can help and provide the support they need!
Step #4 Follow-Up
Understand that it takes time and energy to win over FSBO sellers. Following through is a critical part of prospecting these listings. Create a database of FSBO leads and check in weekly. If the prospect does not answer the telephone, send an email or text.
FSBO sellers represent a great source of additional business for real estate professionals. Focusing your energy on FSBO leads through initial contact and follow-up can increase your chances of outshining the competition and converting these prospects into clients. Remember also that going after FSBO leads can help you secure business before the listings expire and competition becomes much more fierce.
The Haines team can help real estate agents just like you find and convert more quality leads into sales. Our products and services are designed with real estate agents in mind. Contact us today to get started.
Plus, this fully-customizable, white label ebook explains the aspects of using or not using a real estate agent. Just add your logo and branding, give it to potential FSBO’s, place it on your website, and more.